ITM 102 Lecture Notes - Lecture 1: Management Information System, Information System, Avoidance Speech

• School: Ryerson University
• Department: Information Technology Management
• Course: ITM 102
• Professor: Shikui Wu

Document Summary

Combination of hardware, software and processing systems that make information available to you when and where you want it (right place and the right time) The role of information systems in business today. Information systems and technology a major enabling tool for new products, services, business models. Without accurate information: managers must use best guesses. Responding to customers and suppliers in real time. Combination of hardware, software and processing systems that make information available to you when. Business model: describes how company producers, delivers, and sells products to create wealth. Information systems and technology a major enabling tool for new products, services, business. Serving customers well leads to customers returning, which raises revenues and profits. Intimacy with suppliers allows them to provide vital inputs, which lowers costs] Results in: overproduction, underproduction; misallocation of resources; poor response times. Management information systems: combines computer science, management science operations research and practical orientation with behavioural issues.